PPF vs Sukanya Samriddhi Scheme


During emergencies, it's  your financial savings that gets your life balanced. if you accurately make investments or make financial savings, it will be one of the best advantage you but for your future generation too.
Small savings Schemes are most simple and secure options that can be chosen  for your as well as your kids future.

Small savings Schemes consist of post office savings Account, national savings certificate, Lic policy, monthly income scheme(MIS),Fixed deposit, recurring Deposit, PPF and Sukanya Samriddhi Account.

There are  Two major funding alternatives which are safe and secure  for future  of your children which also provides you tax benfits and are risk free.

You can open your Public Provident Fund (PPF) account in your own name or on  the behalf of a minor. PPF is a 15  years funding scheme beneath which an investor enjoys tax exemption at the time of deposit, accrual of interest and maturity  withdrawal.
The PPF Scheme, introduced  in 1968 was aimed at making small financial savings a beneficial funding choice.
PPF presently offers an interest  of 7.1 %.
Minimum Rs 500 and a maximum of Rs 1.5 lakh can be deposited a year  to  PPF account. Deposits can be made  maximum  12 times. However, you ought to be aware that in case you deposit greater than Rs 1.5 lakh on your PPF account in keeping with annum, the extra quantity will neither earn any interest nor will be eligible for rebate underneath income Tax Act 80(c).

PPF-calculator


Sukanya Samriddhi yojna account may be opened in the name of a Girl child until she attains the age of 10 years. The deposits fetches interest rate of  7.6 % . Account may be opened with at the least Rs 250 - and thereafter any amount in multiple of Rs 100- can be deposited. The deposits made to the account, and additionally the proceeds and maturity quantity, would be fully exempted from tax under section 80C of the Income Tax Act.
At most Rs 1,50,000 may be deposited in financial year. Deposits may be made up to fourteen years from the date of Opening of the account. After this time period, the account will simply earn interest  as per the  applicable rate.
One withdrawal will be allowed on achieving the age of 18 years of account holder to meet education/marriage fees upto 50% of the account balance on the credit of previous financial year.
The interest rate on Sukanya Samriddhi account is revised quarterly, much like different small financial savings schemes and PPF.

Sukanya samriddhi yojana-calculator

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